|
|
X TIME – Watch Out For Simple Errors (Tax News On The Tenth)
By Tim Hughes 2009-04-13
With the tax filing deadline looming, a rush to file may lead to an error. Errors made on tax returns may delay the processing of the return and the arrival of your client’s refund. Avoiding the common errors below will help ensure your client’s return is processed quickly and accurately which should ensure their refund arrives on time:
1. Recovery Rebate Credit – The IRS has noted many returns filed in 2009 have errors involving the Recovery Rebate Credit, a credit for people who did not receive a stimulus payment in 2008 or who did not receive the maximum amount. To avoid delays in tax refunds, it is critical that taxpayers know whether they received a payment in 2008 and the correct amount of that stimulus payment.
2. Incorrect or missing social security numbers - When entering SSNs for anyone listed on your tax return, be sure they are entered exactly as they appear on the social security card. Incorrect or transposed numbers will cause delays in the processing of a return.
3. Incorrect or misspelling of dependent’s last name - When entering dependent’s last name on your tax return, ensure they are entered exactly as they appear on the social security cards. Incorrect or misspelling of dependent’s last name will cause delays in processing of your return.
4. Filing status errors - Make sure the correct filing status is marked.
5. Math errors – If you prepare paper returns you should review all addition and subtraction to ensure it is correct.
6. Incorrect bank account numbers for Direct Deposit - If your client is due a refund and requests a direct deposit verify the financial institution routing and account numbers.
7. Forgetting to sign and date the return - An unsigned tax return is like an unsigned check – it is invalid.
Please keep in mind that this is only a sample of simple errors made in filing tax returns. If your client has more substantial problems with the IRS or Illinois Department of Revenue please do not hesitate to call our office. Our office has been successful in helping taxpayers in front of the IRS for over sixteen years. If you have clients with IRS collection problems please call our office and ask for Jessie at (847) 705-7555 to talk to one of our tax attorneys and find out how we can help your client in front of IRS collections.
|
Our lawyers are ready to fight the 941 Tax for you. Click here to learn more on fighting the 941 tax or
CALL 866-913-9778
right now!
- CPA Disbarred for Failure to Exercise Due Diligence and Compliance Problems
view newsletter
- Tax type: 941. Approximate liability: $45,000 personal liability. OUR RESULT: $0.00 – complete abatement.
Read more.
- Tax type: 1040. Approximate liability: $525,000. OUR RESULT: $5,000 Offer in Compromise accepted.
Read more.
- Tax type: 1040. Approximate liability: $20,000. OUR RESULT: $250 Offer in Compromise accepted.
Read more.
|
